More corporate news – Page 32
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News briefsStella will produce more in Indonesia
While starting up its new shoe manufacturing facility in Solo, Indonesia, Stella International Holdings Limited is already planning to add a second factory to make 15 million pairs a year in the country, following a $120 million investment from its largest client, which represented 34 percent of its revenues last ...
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News briefsHydrow raises $55 million in Series D funding
Hydrow, the at-home connected rower, has announced that it has raised around $55 million in Series D funding, led by Constitution Capital with continued support from L Catterton and RX3 Ventures and additional participation from Liberty Street, Activant Capital and Sandbridge Capital. L Catterton, the largest global consumer-focused private equity ...
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ArticleUpdate: Sports companies and the war in Ukraine
We had previously reported on first, early measures taken by some sports companies such as Nike, Haglöfs and Mammut following Russia’s attack against Ukraine. In the meantime, other companies have joined, and industry groups and federations are also taking action. We have summarized the activities that we are aware of. ...
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News briefsLeki has a new brand identity
After 33 years, German pole manufacturer Leki has unveiled its new logo as part of a new, comprehensive brand identity that will be rolled out from March 2022, including a new website. “The brand’s evolution is logical and brings more focus on the essentials. The emotionalization of the brand moves ...
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News briefs
K-Swiss names VP of marketing and director of e-commerce
K-Swiss, together with Palladium under the umbrella of Chinese manufacturer Xtep since 2019, has a new VP of marketing: Anna Amador brings rich industry experience from previous positions at Skechers, Adidas and Nike. ”I’m thrilled to join the team and contribute to the success of the heritage brands of K-Swiss ...
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ArticleNorges Bank halts GPFG investment in Li-Ning
The Chinese sporting goods manufacturer Li-Ning is suspected of contributing to serious human rights violations in Xinjiang province. The Norwegian Ethics Council made this clear in an assessment at the end of September 2021. The reason is Li-Ning’s cooperation with cotton and textile suppliers who are said to employ a ...
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News briefsKicks Crew raises $6 million in Series A funding
Kicks Crew, a global e-commerce platform for sneakers and apparel, announced the closing of a $6 million Series A funding. The financing was led by Gobi Partners, Asia-based private investment group Pacific Century Group and DL Securities Hong Kong. The capital raised will help strengthen the company’s position in the ...
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News briefsCharity platform Sport4ukraine calls for donations and doubles them
On the newly formed charity platform Sport4ukraine, founded by Siegbert Müller, managing director of Outtra, donations to help people in need in the wake of the war in Ukraine are collected. The project is supported by the organizations BSI, VDS, SAZsport, Sport 2000, and companies Alpenstrand, Chillaz, Ortlieb, Bergfreunde, Devold, ...
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News briefsMark Wahlberg invests in sneaker brand P448’s parent company
Actor Mark Wahlberg has become a strategic investor in the New York-based company StreetTrend LLC, taking ”a significant minority financial stake” in the business. StreetTrend, a fashion footwear and streetwear brand company launched in 2017 by Wayne Kulkin, acquired the Italian sneaker brand P448 from NoThanks SpA in late 2020. ...
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News briefs
Jog & Jim is a new French sportswear brand
Géraldine Robert and Vincent Godbert have launched Jog & Jim, a new sports apparel brand that only uses natural fibers like hemp, biological cotton or linen, but no plastics. The company was launched in Roubaix, in France’s North department, not far from the Belgian border. Unlike the usual sportswear, Jog ...
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News briefsCastore signs new debt financing facility
Manchester-based sportswear brand Castore, founded in 2016 by Tom and Phil Beahon and backed by two-time Wimbledon champion Andy Murray and billionaires Mohsin and Zuber Issa, has secured a new financial boost, BusinessLive reports. The U.K. news service wrote that the company has signed a financing facility with the financial ...
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News briefsFanatics receives $27 billion valuation and raises $1.5 billion
According to reports in the Wall Street Journal and SGB, Florida-based Fanatics Inc. has raised $1.5 billion in a funding round that values the sports merchandise and memorabilia company at $27 billion. Because the transaction was private, both media rely on information received by a ”person with knowledge of the ...
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News briefsKathmandu Holdings to change name to KMD Brands
Kathmandu Holdings Limited from New Zealand announced on March 2 that it will change its name to KMD Brands Limited. The new name will take effect on March 16, 2022. The NZX and ASX ticker will remain KMD. An announcement on the launch of KMD Brands, its purpose and vision, ...
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News briefsKYX World secures seed funding
L.A.-based sneaker subscription platform KYX World, founded last year, has received a second seed funding of $3 million led by SeventySix Capital, valuing the company at $16 million. The company’s backers include Rachel Zoe Ventures and Crush Ventures, as well as several celebrities and professional athletes, including NBA All-Star DeMar ...
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ArticleiFit Health & Fitness raises $355 million in capital, names co-presidents
Months after abandoning a $650 million initial public offering due to unfavorable market conditions, iFIT Health & Fitness, formerly known as Icon Health & Fitness and parent of the NordicTrack, Weider and ProForm fitness brands, amongst others, has raised $355 million in capital from L. Catterton, the largest global consumer-focused ...
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News briefsAnta Sports and Hyatt plan to open first Fila-branded hotel
Anta Sports Products and Hyatt Hotels Corp. have announced plans to open the first Fila-branded hotel in Shanghai, China. The Fila House Shanghai will be part of the JdV by Hyatt brand and the first Fila branded hotel in the world. According to Hyatt, the JdV by Hyatt brand comprises ...
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News briefsAviron raises $18.5 million and hires COO
Toronto-based connected fitness company Aviron announced $18.5 million in Series A funding led by Chris Carey and Stripes, also an investor in the running brand On. Additional investment comes from Global Founders Capital, Formic Ventures and 24-Hour Fitness founder Mark Mastrov. Aviron is the developer of a gaming-led, smart rowing ...
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News briefsUnder Armour announces $500 million share repurchase program
Under Armour’s board of directors has authorized the repurchase of up to $500 million of the company’s Class C common stock, effective immediately. Repurchases under this program may be made over the next two years through various methods, including open market transactions, privately negotiated or accelerated share repurchases. The timing, ...
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ArticleS&P upgrades Under Armour’s outlook
S&P Global Ratings has revised its outlook for Under Armour from stable to positive, citing high demand for its products, reduced promotional pricing and abnormally high cash balances. Indicating that they may be raised over the next 12 months, the agency affirmed its debt ratings for the company on the ...
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News briefsMoody’s outlook for Callaway remains negative, despite refinancing
Moody’s maintained its negative outlook about the increasingly diversified Callaway Golf group despite a new move intended to simplify its capital structure by refinancing its debt, following its $1.7 billion acquisition of Topgolf International, the U.S.-based operator of golf venues and entertainment centers, in March 2021. In a previous diversification ...
